Advancements in technology are contributing to the growth in the manufacturing industry. One of the newest pieces of technology is semiconductors.

A fine tuned machine can help manufacturing workers do their jobs and make the operations of a company move smoothly. A new advancement in semiconductors will help make the manufacturing industry operate with ease. On Jan. 15, President Barack Obama announced the launch of a public-private manufacturing hub that would create new technologies for the manufacturing industry. The Next Generation Power Electronics Innovation Institute, which is located by North Carolina State University will develop the technology for wide bandgap (WBG) semiconductors.

The manufacturing industry has relied on silicon semiconductors for years to run machines. The new WBG semiconductor will help productivity by operating twice as fast as the silicon counterparts, according to The Pendulum. The new type of semiconductors will also be able to withstand 10 times the voltage that a silicon semiconductor can withstand.

Along with making machines operate efficiently and being more safe, the new WBG semiconductors will also be good for the environment. These new semiconductors will decrease the amount of energy used by a machine by 20 percent and cut energy waste by 90 percent, according to the U.S. Department of Energy. The DOE said in a statement, this new semiconductor will show dividends right away.

"WBG semiconductors could help reduce the size of an 8,000 lbs. substation to 100 lbs. and the size of a suitcase – ultimately helping to lower the cost of electricity and build a stronger, more reliable grid," the statement read.

These new semiconductors will also increase output from manufacturing sites, which in turn will add more jobs in the process. Businesses who are looking for experienced workers to meet the demands of new production can look to manufacturing recruiters to fill positions.

President Obama said at a press conference the new technology will propel the U.S. manufacturing industry.

"In a global economy, a company has to keep inventing and innovating in order to stay on the cutting edge," Obama said.